Tuesday, May 24, 2022
HomeNFT NewsTezos signs $27M deal to support Man United.

Tezos signs $27M deal to support Man United.

Manchester United is expected to announce a multiyear sponsorship of its training kits by Tezos, a proof-of-stake cryptocurrency platform.

First reported by The Athletic, the deal is apparently in excess of $27 million per year, allowing Tezos to place its logo on the team’s training uniform. Manchester United is said to have finished filming promotional material in advance of the official announcement.

The report speculates that the partnership could involve collaboration in technology space such as a metaverse and other Web3 projects.

Tezos made significant investments in sponsorships of sports. In May 2021, RedBull racing announced Tezos as its official blockchain partner. Tezos created its first non-fungible token (NFT), fan experience in May. It was later launched in November that year.

A similar announcement by McLaren Racing a month later saw Tezos as its official technical partner in a multi-year deal across its Formula 1, Indycar and esports teams, and the Tezos network was used in the launch of McLaren’s NFT collection in October 2021.

Manchester United belongs to the English Premier League (EPL) top tier. This club joins many other EPL clubs who have signed sponsorship deals or fan token partnerships.

In August 2021, Dogecoin (DOGE) partnered with Watford FC as its shirt sleeve sponsor for the 2021-2022 season, with players sporting the coins’ famed meme logo on their arms. Manchester City, Arsenal and Wolverhampton Wanderers FC have all launched fan tokens on various platforms such as Socios and Bitci.

Baby Doge partners with German football club

Meanwhile, Doge- and Shiba Inu-inspired meme coin Baby Doge Coin (BabyDoge) has announced it has partnered with professional football club TSG Hoffenheim, a team in the Bundesliga — Germany’s top football league.

In an announcement, Hoffenheim confirmed that Baby Doge will become an official partner of the club, working together on the development of club-specific NFTs. The club also included what it calls “key promotional material”, which will see Baby Doge’s name displayed on LED boards at home games.

Related: Automakers are minting NFTs, but is there a strong use case?

“TSG Hoffenheim are happy to be working together with such an innovative and leading brand like Baby Doge. “We are looking forward to a successful partnership where we’ll bring an NFT line from the club to life and other exciting projects,” stated Denni Strich CEO of Hoffenheim.

Mike Watson is a project manager at Baby Doge. He stated that the deal would increase its presence on the global market as well as in the European Union. The company would also continue to establish strategic partnerships to expand its reach as a community-centered, player-oriented project in the world of sports.

A similar canine-based meme coin, Floki Inu (FLOKI), which was created after Elon Musk tweeting he was naming his Shiba Inu “Floki,” also scored a partnership deal with Italian professional football club S.S.C. Napoli in November 2021.

The deal saw Floki’s logo, a cartoon Shiba inu with a viking head, displayed on the backsides of Napoli players jerseys. It was also displayed, similar to Baby Doge, on LED signs at Napoli’s home stadium.

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Henry Hicks
Henry Hickshttps://nonfungibletalk.com
NFT and Crypto Enthusiast. Loves Travelling and Exploring the Metaverse!
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